Dr. Michael C. Threatt’s new book is the Affordable Housing Game-Changing Solution to Fix the Affordable Housing Crisis
The Price of Bureaucracy: Removing Section 8 Landlord Pain Points through the Investment in Technology is Now Available on Amazon.com and Barnes & Noble
“I have always known that the Section 8 Program’s red tape frustrated and turned landlords off. I felt it was my responsibility to be the ‘superhero’ who helped solve this affordable housing problem.”— Dr. Michael C. Threatt
DOTHAN, AL, UNITED STATES, December 22, 2022/ EINPresswire.com / -- The Section 8 Program has grown to be the largest rental housing program in American history over the last 48 years but has yet to live up to its public-private partnership design. The Section 8 program is a real estate transaction between a landlord, a Section 8 voucher holder, and a public housing authority (PHA).
However, this relationship appears to be a two-sided partnership instead of a three-way as the Section 8 program was designed in 1974. When this three-way partnership works well, all parties win; nonetheless, when one or more of the partners are unsatisfied, all parties lose.
More specifically, the landlord is the least satisfied and engaged of the three parties. The landlord experiences numerous pain points that create negative experiences and are the reason for their withdrawal from participating in the Section 8 Program.
The Price of Bureaucracy: Removing Section 8 Landlord Pain Points through the Investment in Technology book is the game-changing solution to help fix the affordable housing crisis. This book was written with the Section 8 landlord in mind. The book focuses on innovative solutions to increase landlord satisfaction, improve communication, and enhance customer service to cultivate better PHA-landlord relationships by investing in technology.
Landlords’ perception of the Section 8 Program is institutional bureaucracy, and the bureaucratic red tape is their reality. Coincidentally, this is the unintended consequence of the price of bureaucracy which equals pain points for landlords. “I have always known that the Section 8 Program’s red tape frustrated and turned landlords off. I felt it was my responsibility to be the ‘superhero’ who helped solve this affordable housing problem,” said Dr. Threatt.
The future of affordable housing depends on the success of the Section 8 Program, and the future of the Section 8 Program depends on landlords. Landlords are critically important to the success of the Section 8 Program because, without landlords, there are no affordable housing units to lease.
Although, landlords feel like they do not have a voice, no support, and no one validates their opinions. He did the opposite and validated the landlords’ opinions through his dissertation research. Additionally, the “carrot on the stick” guaranteed rent does not work anymore. Many landlords simply do not want to take the Section 8 voucher because they do not want to deal with the bureaucratic red tape. Landlords conduct a cost-benefit analysis regarding the guaranteed rent and decide whether it is worth dealing with the bureaucratic red tape.
Landlords can quickly lease to a private market renter without dealing with the PHA’s institutional bureaucracy. Landlords want to maximize their return on investment (ROI) and have a steady cash flow that leads to profit.
Unfortunately, sometimes PHAs do not operate as if landlords are running a business and need to realize that their practices do not allow landlords to operate as a business. Landlords have to make real-time business decisions and need real-time information data at their fingertips to make those decisions like the rest of the real estate industry. Therefore, the need for PHAs to invest in technology to streamline their operations and remove the red tape is more paramount than ever.
The FY2023 HUD budget will increase the Section 8 program funding; however, the federal funding boost comes with a caveat. Regardless of the budget increases, Section 8 voucher holders will continue to have trouble finding landlords who will accept their Section 8 vouchers.
Furthermore, Section 8 voucher holders feel like they have won the ‘Golden Ticket’ or the ‘Powerball Lottery’ but do not have anywhere to cash their winning ticket.
Addressing the future of affordable housing in America is the premise of his book. He focuses on the mass exodus of 10,000 landlords annually, leaving the Section 8 Program since 2009, estimated to be 130,000 today. This phenomenon is a key factor in the affordable housing shortage in America and the 2.3 million families that the Section 8 Program currently serves.
There are an estimated three to five Section 8 voucher holders tied to each landlord, and if we do the math of an average of 4 x 130,000, we have lost 520,000 affordable housing units.
Dr. Threatt has worked within the real estate industry’s public, private, and nonprofit sectors for approximately two decades. He is also the senior vice president & COO at Dothan Housing and a REALTOR® with Community 1st Real Estate in Dothan, AL.
Dr. Threatt’s deep knowledge and multifaceted roles as a practitioner, consultant, researcher, and REALTOR®, give him insights that few others have. He is also known as The Section 8 Landlord Coach™ and is a subject matter expert (SME). As a landlord, he understands what it’s like from the other side and provides real estate investment strategies for Section 8 real estate investors.
This is the perfect book on the Section 8 Program for a real estate investor, property manager, homeless service provider, REALTOR®, PHA employee, resident, board commissioner, real estate developer, HUD employee, professor, student, Section 8 voucher holder, or politician.
The Price of Bureaucracy is a roadmap to saving the affordable housing industry and preventing the continued mass exodus of landlords from the Section 8 Program. The newly released book is now available on Amazon.com and Barnes & Noble. You can order your copy today by clicking here: http://ow.ly/tfFJ50KvS6U.
About Elevate Housing Solutions, LLC
Dr. Threatt is the principal and CEO of Elevate Housing Solutions, LLC. Elevate Housing Solutions, LLC is a management firm that provides Section 8 Program consulting services to real estate investors, developers, landlords, nonprofits, property management companies, and PHAs.
Under the leadership of Dr. Threatt, the firm provides consulting and coaching for PHAs on how to Attract, Recruit, and Retain landlords in the Section 8 Program. As The Section 8 Landlord Coach™, his firm provides consulting and coaching for landlords and real estate investors on how to create positive cash flow, increase profit, and maximize their return on investment (ROI) by participating in the Section 8 Program.
For more information, please visit Elevate Housing at https://www.elevatehousing.com/.
Dr. Michael C. Threatt
Elevate Housing Solutions, LLC
Visit us on social media: